§6100-E. Records
Records maintenance is governed by this section.
[PL 2023, c. 662, §2 (NEW).]
1.
Required records.
A licensee shall maintain for at least 3 years the following records for determining its compliance with this Act:
A.
A record of each outstanding money transmission obligation sold;
[PL 2023, c. 662, §2 (NEW).]
B.
A general ledger posted at least monthly containing all asset, liability, capital, income and expense accounts;
[PL 2023, c. 662, §2 (NEW).]
C.
Bank statements and bank reconciliation records;
[PL 2023, c. 662, §2 (NEW).]
D.
Records of outstanding money transmission obligations;
[PL 2023, c. 662, §2 (NEW).]
E.
Records of each outstanding money transmission obligation paid within the 3-year period;
[PL 2023, c. 662, §2 (NEW).]
F.
A list of the last known names and addresses of all of the licensee's authorized delegates; and
[PL 2023, c. 662, §2 (NEW).]
G.
Any other records the administrator may reasonably require by rule.
[PL 2023, c. 662, §2 (NEW).]
[PL 2023, c. 662, §2 (NEW).]
2.
Form of records.
The items specified in subsection 1 may be maintained in any form of record as long as the records can be viewed without special equipment and can be copied using methods commonly used in business.
[PL 2023, c. 662, §2 (NEW).]
3.
Records outside this State.
Records specified in subsection 1 may be maintained outside this State if they are made accessible to the administrator on 7 business days' notice.
[PL 2023, c. 662, §2 (NEW).]
4.
Inspection.
All records maintained by the licensee as required in subsections 1 to 3 are open to inspection by the administrator pursuant to section 6081, subsection 1.
[PL 2023, c. 662, §2 (NEW).]
SECTION HISTORY
PL 2023, c. 662, §2 (NEW).